On the afternoon of May 4, the Government Office organized the regular monthly Government press conference in April, chaired by Minister and Head of the Government Office Tran Van Son.
At the press conference, regarding the attraction of foreign investment capital, especially for large-scale technology corporations in important fields such as semiconductors and chip technology, Deputy Minister of Planning and Investment Do Thanh Trung said: Attracting investment, the investment potential of large technology corporations is one of the three breakthroughs that the Party’s Resolution identified right from the beginning of the XIIIth Congress’s tenure. Vietnam has made great efforts to mobilize and attract foreign investment, especially in the field of technology, semiconductor electronics, etc.
Deputy Minister of Planning and Investment Do Thanh Trung shared at the press conference
According to Deputy Minister Do Thanh Trung, in reality, foreign enterprises not only invest in Vietnam but also invest in many other countries, so their investment in Vietnam or investment in other countries is normal. The investment of foreign corporations and enterprises depends on many factors, including three main factors.
Firstly, objective factors include factors such as the geopolitical and economic situation of the world, the region, and Vietnam, global supply chain investment and movement trends, and security issues.
Secondly, subjective factors from the enterprise, the investor: Depending on the investment strategy, investment goals, development, evaluation of the suitability of each locality, each region, the resources implemented, etc.
Thirdly, factors related to Vietnam’s readiness to attract large technology corporations in the world, including institutions, infrastructure, and human resources.
Of the above three factors, we need to focus on the factor related to Vietnam’s readiness.
Regarding institutions, Vietnam is increasingly perfecting its legal system, mechanisms, and policies to improve the investment and business environment. Notably, Vietnam has built and is building many attractive investment incentive mechanisms for technology companies and corporations, including the semiconductor electronics and chip industry. Semiconductor investment projects in the high-tech sector are entitled to the highest incentives within the framework of Vietnamese law.
Regarding infrastructure, Vietnam ensures infrastructure including road, waterway, and air transport, infrastructure related to serving production in these industries such as electricity, etc., all of which are invested synchronously.
Most recently, the Prime Minister has approved Power Plan VIII, ensuring priority to provide stable electricity for investment projects and towards developing sustainable energy.
At the same time, we focus on developing high-tech parks, especially the National Innovation Center, to create an outstanding environment and institution, creating the best conditions for foreign corporations to invest and produce in Vietnam.
Regarding human resources, Vietnam has an abundant workforce in the technical and technological fields suitable for the semiconductor industry. Besides, there are competent training and research agencies, prestigious universities, etc., such as Viettel, VNPT, FPT, CMC, etc.
Fulfilling the task assigned by the Government, the Ministry of Planning and Investment is developing a project to develop human resources for the semiconductor industry, ensuring the supply of 50,000 high-quality human resources for the semiconductor industry by 2030.
Vietnam has a favorable geographical location for foreign investors; the Vietnamese Government is highly determined to pursue and develop the semiconductor and chip industry. Vietnam is building a Development Strategy for the semiconductor industry and providing maximum support for foreign investors, especially the United States, to invest and do business in the semiconductor supply chain in Vietnam.
In fact, Vietnam has been attracting more and more large technology corporations. In the semiconductor industry, more and more large corporations from Japan, South Korea, Taiwan (China), and especially from the United States, are investing and cooperating specifically in Vietnam, such as Intel, Amkor in packaging and testing; Marvell, Qorvo, Qualcomm in design; Synopsys, Cadence in providing chip design tools, etc.
Recently, the leadership of the NVIDIA corporation has continuously visited Vietnam and committed to cooperating on AI and semiconductors. Accordingly, enhancing cooperation capabilities includes building supercomputing centers in Vietnam, training human resources in AI and the semiconductor industry, and developing an ecosystem for research and development and startups in AI.
Assessing the potential for the development of the semiconductor industry in Vietnam, speaking at the regular Government meeting on May 4, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam has many opportunities, and currently, many major global technology companies want to invest in the electronics, chip, and semiconductor industries in Vietnam.
“Enterprises and international organizations continue to highly appreciate Vietnam’s growth prospects,” he said, adding that the newly registered foreign direct investment (FDI) capital alone since the beginning of the year has reached over 7.1 billion USD, up 73,2%.
According to Mr. Nguyen Chi Dung, the electronics, chip, semiconductor, and renewable energy sectors are attracting the interest of many major global technology companies. Mr. Choi Joo Ho, General Director of Samsung Vietnam Complex, also mentioned this content at the opening ceremony of the High-tech Talent Development Program (SIC) yesterday (May 3). According to Mr. Choi, Vietnam is increasingly proving its importance in the global supply chain, which is more evident in terms of politics, human resources, infrastructure, and increasingly attracting worldwide attention. In particular, Vietnam’s importance in the information technology and high-tech industries is expected to become even more prominent. “High-tech companies worldwide are competing to find investment opportunities in Vietnam,” said Mr. Choi.
